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This study aims to examine the effect of company growth, company size (SIZE), capital structure, (DER), and profitability (ROE) on company value (PBV) in manufacturing companies listed on the Indonesia Stock Exchange. The sample consisted of 194 companies, with 49 selected using purposive sampling techniques. The study used multiple linear regression analysis and company financial statement data from 2018-2020. The coefficient of determination function is to measure how much influence between Company Growth, Company Size, Capital Structure, and Profitability on Company Value. The results of statistical testing show that the company's growth partially affects the value of the company. The size of a large or small company will not be able to affect its value. It also shows that if the company increasingly uses long-term debt to finance its assets, it can increase the value. [ABSTRACT FROM AUTHOR]

The trade distance is an important constraining factor underpinning the emergence of social and economic interactions of complex systems. However, agent-based studies supported by the granular analysis of distances are limited. Here, we present a complexity method that places the actual geographical locations of individual firms in Japan at the epicentre of our research. By combining methods derived from network science together with information theory measures, and by using a comprehensive dataset of Japanese inter-firm business transactions, we evaluate the effects of spatial features on the structural patterns of the economy. We find that the normalised probability distributions of the distances between interacting firms obey a power law like decay concomitant with the sizes of firms and regions. Furthermore, small firms would reach large distances to become customers of large firms, while trading between either only small firms or only large firms tends to be at smaller distances. Furthermore, a time evolution analysis suggests a reduction in the overall average trading distances in last 20 years. Lastly, our analysis concerning the trading dynamics among prefectures indicates that the preference to trade with neighbouring prefectures tends to be more pronounced at rural regions as opposed to the larger central conurbations. [ABSTRACT FROM AUTHOR]

Firm-level innovation in sub-Saharan Africa remains under-researched. To address this gap, this paper examines the obstacles to innovation faced by small, micro, and medium-sized enterprises (SMMEs) in South Africa. Using the 2018 Business Innovation Survey, we apply the double-hurdle model to investigate factors determining a firm's decision to invest, and the intensity of innovation. Our results show that cost and institutional obstacles were significantly more important as disincentive factors for medium-sized enterprises while knowledge obstacles were significant disincentive factors for large enterprises. In addition, market obstacles hampered investment among large enterprises. Interestingly, none of these factors was found to deter innovation intensity among small and micro enterprises. The study findings suggest that there is no one-size-fits-all approach to innovation policy and intervention programmes to support innovation within firms of different sizes. [ABSTRACT FROM AUTHOR]

This paper seeks to contribute to the burgeoning research on corporate governance and research and development (R&D) by exploring the contingent role of firm size and its crucial role in defining conditions for competitive advantage. Using a generalised method of moments (GMM) estimator and a sample of U.S. publicly traded pharmaceutical firms from 2009 to 2018, we test several hypotheses related to the role of firm size in the relationship between corporate governance and R&D investment. Our findings show the importance of institutional context and point out the configurations of governance practices that lead to high and low levels of R&D investment. We find that the effect of corporate governance on R&D investment is contingent upon firm size. Larger and smaller firms differ in building and employing their strategic decisions. Our results indicate that larger firms facilitate R&D investment than smaller firms, showing that these firms are more prone to seek variation and visibility for accessing better resources. Our findings are relevant for firms aiming to implement strong governance mechanisms to track their R&D activities and for policymakers interested in promoting R&D investment. [ABSTRACT FROM AUTHOR]

Focusing on the sharp declines in exports during the global financial crisis and consumption during the COVID-19 pandemic, we empirically estimate the propagation of demand shocks from customers to their suppliers through firm-level input-output linkages in Japan. We find economically significant propagation of demand shocks and show that the strength of the propagation depends on firm sizes. During the global financial crisis, negative demand shocks hitting large exporters propagate to their large suppliers but not to their small suppliers. In contrast, during the pandemic, most of the firms damaged by the pandemic are small, and the negative demand shocks hitting these small firms also propagate to their small suppliers. Our results highlight the heterogeneous nature of demand shock propagation across firms, suggesting the existence of a specific route in an input-output network through which demand shocks easily propagate. [ABSTRACT FROM AUTHOR]

This paper analyses the impact of company size on the application of human resources (HR) investments. Data were collected through a questionnaire distributed to 610 SMEs in the Czech Republic. Properly completed questionnaires were obtained from 581 enterprises. The data were evaluated using the Chi-square test of independence, Kolmogorov-Smirnov normality test, Kruskal-Wallis test, and analysis of variance. Research questions were divided into four groups. The first group examined the application of HR investments as a reward, and the second group as a tool for increasing the interest in employment with the company. Another group focused on human capital management (HCM) and its impact on corporate financial performance. The last group dealt with HCM to improve the competitive advantage and the market position of the company. The results show that company size has a significant impact on the application of HC investments. In all groups, large enterprises (150+ employees) make investments to a greater extent than smaller companies. As for sector, the highest rating was recorded for companies operating in logistics and transport. The overall evaluation shows that large companies use the items more often, and no significant differences were recorded between different sectors. The findings may help large enterprises to realize that investment in human capital is long-term, increases competitiveness, and generates indirect returns. Small enterprises can also make investments in human capital, although to a limited extent, and it is not advisable to totally avoid such investments. The limitations are in the selected research method, the number of questions and respondents. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to investigate the impact of information and communication technology (ICT) investment on the micro, small and medium enterprises (MSME) profitability in the Indian context. Design/methodology/approach: This study used a framework based on the ICT investment and firm size, measuring the impact on profit before depreciation, interest, tax and amortisation of MSME by taking a random sampling of 300 Indian MSME manufacturing firm's secondary data from the Prowess database. This framework was analysed using the design of experiment (DoE) technique. Findings: The study showed that ICT investment has a significant positive relationship with profitability. This study examines the different ICT investment levels to predict investment strategies and fine-tune profit targets. The critical finding is that ICT investment maximises profit at one million rupees. This discovery aids MSME leaders' sustainable business decision-making. Research limitations/implications: This study has an explicit limit to the Indian context, where the firm requirements of countries are different, and these findings need to be validated with many operating variables and applied to more firms with more data. Even so, as a theoretical implication, this study took a novel approach to ICT adoption (through ICT investment) in the Indian MSME sector with guiding levels of ICT investment for each type of firm (i.e. micro, small and medium). This study opens new avenues for investigating researchers and stakeholders by exploring other factors responsible for ICT adoption. Practical implications: This study uniquely provides practitioners with the functional level of ICT investment for MSMEs in the Indian context. These finding guides top management to make strategic ICT adoption decisions with information symmetry. At the same time, these findings suggest financial institutions astern their credit programme to provide credit for ICT investment in MSMEs. Social implications: This study highlights the value of ICT as a practical resource for business owners that significantly makes MSMEs more informed and profitable, thus creating more jobs and incrementing the country's gross domestic product (GDP). Originality/value: This study offers unique empirical findings on how decision makers in MSMEs maximise profits through optimal ICT investment levels depending upon the firm size in an emerging economy like India. There is evidence in the study to conclude that ICT is a need of MSME and has implications for firm performance. [ABSTRACT FROM AUTHOR]

The technical efficiency of water companies plays a crucial role in ensuring the reliable and sustainable delivery of clean and safe drinking water. It also influences the effective management of water and wastewater services. Services of this kind, usually provided by a monopoly supplier, offer operators no market incentives to innovate, or improve their efficiency. So, the mission of the regulatory institutions is to simulate a competitive environment. The main aim of this contribution is to use Network Data Envelopment Analysis (N-DEA) to assess and benchmark the technical efficiency of 14 water and wastewater companies offering their services in Slovakia from 2019 - 2021. The methodology of N-DEA allows us to assess the activity's cost and delivery efficiency, and its overall technical efficiency. We show that full cost efficiency was achieved by two small and one large water companies operating in different regions. Three of the largest suppliers of water and wastewater services and one small company achieved the efficient delivery of water services. Overall efficiency was achieved by one large company in 2021 and one small company in 2019 and 2020. The outcome of our empirical analysis demonstrates the excellent skills of managers in technically efficient companies, regardless of company size and region. That outcome may be of interest to regulatory institutions and the management of individual water companies. [ABSTRACT FROM AUTHOR]

A survey was conducted in this study to determine the general characteristics of the agricultural machinery manufacturing industry in the Konya region. To achieve this, 50 enterprises of various scales, considered representative of the sector, were selected and included in the study. When evaluating the enterprises based on size, it was found that 52% of them were small-scale enterprises. The average age of business owners is 53 years, with 35 years of industry experience, and 47% of them have primary school education. While a total of 1204 workers are employed in the enterprises participating in this study, there is an average of 24.5 workers per enterprise. Of the total personnel, 78.3% consisted of workers, followed by engineers with an average of 5.5%, accountants with 5.3%, marketers with 5% and technicians with 4%. Only 34% of enterprises cooperate with KOSGEB and 8% with TUBITAK in R&D and P&D activities. In addition, it was determined that 18% received consultancy from universities. Present findings shed light on the developments in the sector as well as understanding the situation of agricultural machinery manufacturing industry enterprises in the region. [ABSTRACT FROM AUTHOR]

Purpose – This study aims to seek to analyse the relationships between profitability, productivity, external debt and growth in SMEs. The authors also analyse firm size and age as explicative variables of small and medium-sized enterprise (SME) growth. Design/methodology/approach – In this paper the data were collected for 3309 SMEs for the period 2010– 2019. The authors estimate the model using the system generalised method of moments dynamic estimator. Findings – The results show that after a certain level of profitability, this determinant positively impacts SME growth. Productivity influences positively the firm growth. There is a positive effect of external debt on SME growth, which can be explained by the insufficiency of internally generated funds. The authors obtained a negative signal between size and firm growth, contradicting Gibrat’s Law (1931). Moreover, the results suggest that SMEs grow less after a certain age, suggesting that small firms grow less after reaching the minimum scale of efficiency. Practical implications – For SME owner-managers, this study enhances the importance of profitability and labour productivity for firm growth. For policymakers, the results suggest the need for favourable conditions for SMEs in accessing external finance. Originality/value – Profitability negatively impacts on SME growth. However, the authors found that above a certain level of profitability, probably, as firms accumulate retained earnings, profitability has a positive effect on SME growth. Moreover, this study shows that labour productivity and debt positively impact on SME growth, evidencing the importance of the availability of financial resources to sustain the growth of these firms. [ABSTRACT FROM AUTHOR]

The article explores the implementation of digital technology in small and medium-sized Slovenian enterprises (SMEs), with a focus on understanding existing trends, obstacles, and necessary support measures during their digitalization progress. The surveyed companies mainly rely on conventional technologies like websites and teamwork platforms, emphasizing the significance of strong online communication and presence in the modern business world. The adoption of advanced technologies such as blockchain is limited due to the perceived complexity and relevance to specific sectors. This study uses variance analysis to identify potential differences in the digitalization challenges faced by companies of different sizes. The results indicate that small companies face different financial constraints and require more differentiated support mechanisms than their larger counterparts, with a particular focus on improving digital competencies among employees. Despite obtaining enhancements such as elevated operational standards and uninterrupted telecommuting via digitalization, companies still face challenges of differentiation and organizational culture change. The study emphasizes the importance of recognizing and addressing the different challenges and support needs of different-sized companies to promote comprehensive progress in digital transformation. Our findings provide important insights for policymakers, industry stakeholders, and SMEs to formulate comprehensive strategies and policies that effectively address the diverse needs and challenges of the digital transformation landscape. [ABSTRACT FROM AUTHOR]

This paper deals with the comparison of differences in the levels of the application of executives and managers' competences in companies divided by the number of employees and the line of business and identifies the differences based on this classification. Research data were collected via a questionnaire survey administered to 610 small and medium-sized enterprises in the Czech Republic. The subsequent analysis of the responses showed that it is possible to work with complete data from 581 companies. The data were then subjected to statistical calculations according to statistical methods, specifically, the general linear model (GLM), two-way ANOVA, and regression analysis. These methods were used for calculating the results and compiling auxiliary tables and graphs. The results show that in terms of the classification of the companies by their size (the number of employees), it is statistically clear that with the growing number of employees and thus the size of companies, the level of application of the competencies of managers and executives increases as well. The highest level was identified in companies with 150 or more employees, while the lowest was identified in small companies with no more than 9 employees. In terms of the classification of companies by line of business, there were no significant differences in the application of competences; therefore, it cannot be confirmed that any specific line of business shows a higher level of applying managers' and executives' competences. The results obtained can help small companies realize that although the application of competences is more typical for large enterprises, small companies must also pay attention to this topic if they want to grow in the future and increase their turnover. The results are limited by the methods chosen for the achievement of the objectives and data collection. Finally, the results were compared with the findings of other authors. [ABSTRACT FROM AUTHOR]

Innovating in Medical Device (MD) industry is challenging. This study aims to develop and validate an evidence-based framework that helps innovators of small and large enterprises (SEs and LEs) assess their readiness for successful MD development and deployment. We conducted a key-informant process (stage 1) where 25 international experts identified a list of emergent Health Technology Assessment (HTA) themes they believed were essential to company success. A sample of 22 European and US selected companies (13 SEs and 9 LEs) then reached a consensus on a list of key themes through a robust Delphi process (stage 2). Finally, we constructed (stage 3) and validated (stage 4) the checklist for SEs and LEs. The checklist for SEs and LEs included 21 and 15 items (i.e., fundamental Yes/No questions) with nine overlapping criteria for both SEs and LEs. In both groups, MD success was driven by three major item categories: (i) R&D assessment strategy; (ii) device-outcome measures; (iii) company profiling. Alongside the retrospective validation study, we collected 40 case studies on MDs (23 successes and 17 failures) across the selected enterprises. The retrospective validation provided the proportion of successful and failed case studies that met the 'MeDKET' criteria. We discovered that early HTA plays a pivotal role in MD industry success with different implications based on enterprise size. This study is the first of its kind to provide a holistic picture of the perceived role of early-stage HTA in MD industry success. [ABSTRACT FROM AUTHOR]

Using survey data from 1438 Peruvian manufacturing firms, we explore multiple and simultaneous relationships between the effects of innovation activities, employee level of education, and the firm size on manufacturing firms' innovation outcomes. We find that there is a positive relationship between innovation activities, employee level of education, and firm size. In addition, innovation activities have direct and positive effects on product and service innovation. However, employee level of education has positive indirect effects, especially on product innovation. The study also highlights that there is a negative direct relationship between size and service innovation. Thus, it is important to establish public policies aimed to promote service innovation in manufacturing firms, with specific support for small firms. [ABSTRACT FROM AUTHOR]

Purpose: Do financial services needs depend on the firm size? To highlight the impact of different categories of financial services on firm performance, we establish a correspondence between financial services and firms' performance classified according to their size, controlling with the determinants of firm performance and the obstacles that hinder the development of each category of firm. Design/methodology/approach: We have mobilized microeconomic data on 78,629 firms stratified by size and covering 135 countries, extracted from the Enterprise Surveys database. A two-stage least squares (2SLS) regression analysis with instrumental variable modeling is used. Findings: Our empirical results show that a firm's financing behavior differs according to its size. For micro and small firms, the availability of internal financing has a positive impact on their performance. For medium-size firms, the use of debt stimulates firm performance. For large firms, the positive effect of debt diminishes as the level of debt increases, which leads this category of firms to increase their capital. We complemented our study by exploring the issue of whether barriers to firm performance differ by size. Our results bring a support to the idea that medium-size firms suffer more than micro, small, and large firms. The size of this category of firms does not allow them to operate in the informal sector as micro and small firms do, and does not allow them to influence political authorities to operate in their favor as large firms do. Originality/value: Previous studies have focused on investigating the effects of access to finance and/or financing constraints on firm's performance, neglecting the issue of identifying which financial services have the most impact on firm performance depending on firms' size. This study fills the gap in the literature in two main ways. First, we identify the financial services that have the most impact on firm performance using firm-level data covering 78,629 firms by size (micro, small, medium, and large). Second, we investigate the different barriers to firm performance by size. [ABSTRACT FROM AUTHOR]

The capital structure and its indicators play a significant role in corporate finance. The aim is to estimate business performance using selected indicators describing primarily the capital structure, asset structure, or liquidity of transport companies in Central Europe. The total sample consists of almost 4000 small and medium-sized enterprises in the transport sector. This data is collected from Amadeus Bureau van Dijk. The results show that six out of ten variables are statistically significant predictors affecting business performance; two out of the six indicators are categorical variables, such as the company size classified into small and medium enterprises and the country divided into the Czech Republic, Hungary, Poland, or Slovakia. We find that Hungarian medium-sized enterprises show higher profitability than other enterprises, assuming other factors are unchanged. Finally, the results demonstrate that a high debt ratio and a high share of non-current assets in total assets have a negative impact on corporate performance in contrast to the current ratio and the share of cash and cash equivalents in total assets. In other words, liquidity and cash and its equivalents have a significant role in increasing business performance. These findings are specific because, generally, high liquidity does not positively impact performance. [ABSTRACT FROM AUTHOR]

Countries in transition should encourage internal processes to improve management in all business segments. One of the ways to improve this is the introduction of internal control mechanisms. This way of dealing with internal factors requires a new organization, resources necessary to cover the basic and extraordinary costs of introducing internal control mechanisms, as well as additional training of employees in those entities. This paper deals with the application of three forms of internal control mechanisms, i.e. internal audit, internal control and the combination of these two forms with financial management and control. The intention was to discover the synergistic effects in large and medium-sized agricultural enterprises arising from the use of internal control factors. The obtained results are far more positive than expected, especially those related to the generation of income in terms of the size of the company and the established internal control mechanism. [ABSTRACT FROM AUTHOR]

Background: In the European Union (EU), there are over half a million medical devices, varying from pacemakers to software. Medical devices play an important role in health care as they are used in diagnosis, prevention, monitoring, prediction, prognosis, treatment, or to alleviate disease. Medical devices are regulated in the EU by the Medical Device Regulation (MDR), which came into force on 25 April 2017 and into application on 26 May 2021. The demand for regulation arose from the need to establish a transparent, robust, predictable, and sustainable regulatory framework. This study aims to examine how the managers and regulatory professionals in health technology enterprises perceived the application of the MDR and what were their information needs regarding the MDR. Methods: A link to an online questionnaire was sent to 405 managers and regulatory professionals representing health technology enterprises in Finland. The study included 74 respondents. Descriptive statistics were used to describe and summarise the characteristics of the dataset. Results: Information related to the MDR was fragmented and the necessary information was sought from multiple information sources, while the Finnish Medicines Agency (Fimea) was regarded as the most important source of information and training provider. To some extent, the managers and regulatory professionals expressed their dissatisfaction with the performance of Fimea. The managers and regulatory professionals were not very familiar with the ICT systems provided by the EU. The size of an enterprise affected how many medical devices it manufactures and generally affected the views about the MDR. Conclusions: The managers and regulatory professionals understood the role of the MDR regarding the safety and transparency of medical devices. The available information regarding the MDR did not properly fit the needs of users and there seemed to be a gap in information quality. The managers and regulatory professionals had some difficulties understanding the available information. Based on our findings, we believe it is paramount to evaluate the challenges faced by Fimea and how it could improve its performance. To some extent, the MDR is regarded as a burden for smaller enterprises. It is important to highlight the benefits of ICT systems and to develop them to better meet the information needs of enterprises. [ABSTRACT FROM AUTHOR]

This study describes the evolution of multifactorial productivity in the manufacturing sector of the Colombian coffee region (Caldas, Risaralda and Quindío) in the period 2005-2019 through a panel of microdata obtained from the Annual Manufacturing Survey (EAM). To meet the objective, the methodology proposed is used to correct simultaneity biases, using the demand for intermediate inputs as a proxy for productivity and gross capital formation, in addition to real wages to estimate the functions of production by departments that make up the coffee axis. The results suggest that productivity in the department of Quindío has had an unfavorable behavior with respect to Caldas and Risaralda in the aggregate sphere, which may be the consequence of a heterogeneous industrial composition between the departments of the coffee region, where the added value tends to concentrate on areas of intensive industrial activity in physical and human capital such as Caldas and Risaralda. On the other hand, the findings at the firm level show that there is a dissimilar behavior between Caldas, where large companies are more productive, and Quindío, where productivity increases in smaller companies; meanwhile, for Risaralda the results are consistent given the size of the company [ABSTRACT FROM AUTHOR]

This paper analyzes the drivers of firms' technical efficiency among exporting Italian small-to-medium enterprises (SMEs). It fills a gap in the literature on international SMEs' performance by relating their profit and cost efficiency to a set of core determinants. We find that profit efficiency decreases as export intensity grows unless a firm achieves a medium scale. The evidence highlights another interesting trend: regardless of firm size, workforce experience shows a non-monotonic relationship with both a firm's profit and the cost-efficiency score. Further, a firm's debt sustainability affects its efficiency performance negatively in terms of profit but positively in terms of cost. Conversely, a higher financial burden leads to better profit efficiency for medium-sized enterprises, but this effect is reversed for smaller firms. These results have important policy implications, not only for policymakers but also for firms' management, pursuing a competitive advantage to navigate the stormy international market. [ABSTRACT FROM AUTHOR]

Although cloud computing is a rapidly evolving technology and is considered one of the key technological drivers of business digitalisation, it is still a challenge for many businesses to adopt it. Implementing the right cloud services is challenging and requires the right level of knowledge. In addition, the size of the company, its digital maturity and its financial situation are also critical factors, which are particularly relevant for small and medium-sized enterprises. Therefore, in this study, we focus on the situation of small and medium-sized enterprises regarding cloud services. To this end, we conducted qualitative research to examine the studies on cloud services, their trends, research directions, and research areas and to explore the relationship between the publications and their scientific embeddedness. [ABSTRACT FROM AUTHOR]

This study attempts to reveal the consequences of coronavirus disease 2019 (COVID-19) on micro, small, and medium enterprises (MSMEs) in Chiang Mai, Thailand. A total of 786 MSMEs were surveyed during May and August 2022, corresponding to the period when the recovery of businesses and livelihoods from the ongoing COVID-19 crisis became more perceptible. The perceptions of COVID-19's impact on MSMEs and their survivability are explored and investigated. To achieve this goal, a copula-based sample selection survival model is introduced. This idea of the model is extended from the concept of the Cox proportional hazards model and copula-based sample selection model, enabling us to construct simultaneous equations—namely, the probability-of-failure equation (selection equation) and the duration-of-survival equation (time-to-event or outcome equation). Several copula functions with different dependence patterns are considered to join the failure equation and the duration-of-survival equation. By comparing the Akaike and Bayesian information criteria values of the candidate copulas, we find that Farlie–Gumbel–Morgenstern (FGM) copula performs the best-fit joint function in our analysis. Empirically, the results from this best-fit model reveal that the survival probability of MSMEs in the next year is around 80%. However, some MSMEs may not survive more than three months after the interview. Finally, our results also reveal that the tourism MSMEs have a lower chance of survival than the commercial and manufacturing MSMEs. Notably, the business size and the support schemes from the government—such as the debt restructuring process, the tax payment deadline extension, and the reduced social security contributions—exhibited a role in lengthening the survival duration of the non-surviving MSMEs. [ABSTRACT FROM AUTHOR]

The IT infrastructure is the basis for the efficient and effective flow of logistic information between the individual elements of the logistical system. Therefore, the aim of this research was to assess the diversification of equipment in IT infrastructure in enterprises in Central Pomerania in Poland. The research was conducted in 2021 using the CAWI method. The research covers five categories of IT infrastructure: IT equipment, software/applications, means of communication, devices cooperating in the smart internet network and other devices. The study was conducted on a sample of 353 enterprises located in the area of Central Pomerania. The results of the conducted research indicate that the degree of use of the IT infrastructure in the analyzed enterprises varies. Taking into account the size of the enterprise, IT infrastructure is much more often used by large and medium enterprises than by small and micro enterprises. In addition, the results also show the diversification of the use of IT infrastructure depending on the business profile of the enterprise. Among the various sections of activity, IT infrastructure is most often used by enterprises from Section C (industrial processing) and from Section H (transport and warehouse management). [ABSTRACT FROM AUTHOR]

The majority of small and medium-sized enterprises (SMEs) worldwide are fragile and endangered in facing financial problems due to a lack of financial resources. To overcome these issues, their capabilities based on a Resource-based View (RBV), such as innovativeness and competitiveness, might enable them to reduce their major financial issues related to their financial risk management. In this regard, this paper aims to examine the impacts of SMEs’ innovative and competitive attitudes on their financial risk management. Moreover, this paper examines whether those impacts differ depending on firm size. In line with those purposes, this paper analyzes 1221 Czech, Slovak, and Hungarian SMEs randomly selected from various databases. The researchers employ an online survey to collect the research data from the survey respondents, who are the executives of the analyzed SMEs. Concerning the data analysis, the researchers run Ordinal Logistic Regression Test. According to the results, while innovativeness negatively affects the financial risk management of SMEs, competitiveness does not. On the other hand, the results regarding firm size indicate that more competitive and less innovative microenterprises perform better in financial risk management compared to their less competitive and more innovative counterparts. However, competitiveness and innovativeness do not play determining roles in the financial risk management of small and medium-sized firms. The costs of R&D activities that firms face, the sectors that firms operate, and the educational status of the executives of SMEs might be strong arguments to explain the result of this paper. [ABSTRACT FROM AUTHOR]

Industry 4.0 increases the production efficiency and competitiveness of companies. However, Industry 4.0 implementation is comparatively low in developing countries, while Malaysian manufacturing Small and Medium Enterprises (SMEs) Industry 4.0 adoption is still in its infancy stage. This quantitative study aimed to broaden the knowledge of the driving factors that significantly strengthen Malaysian manufacturing SMEs' readiness for the digital revolution. Based on the Resource-Based View theory, the study built a research framework to govern the investigation of organizational capabilities, SME institutional support, perceived advantage, and market factors as the driving factors of Industry 4.0 readiness, while firm size as the moderating variable. The data were collected by conducting an online survey with the owners and managers of Malaysian-owned manufacturing SMEs located throughout Peninsular Malaysia, where the firms have received some form of government assistance. The analysis of the study indicated that organizational capabilities, SME institutional support, and market factors positively correlate with Industry 4.0 readiness. It was determined that firm size only moderates the relationship between SME institutional support and Industry 4.0 readiness. This study's findings benefit industry practitioners and policymakers who wish to drive the future of Malaysia's SMEs business ecosystem and contribute to Industry 4.0 literature. [ABSTRACT FROM AUTHOR]

This paper used a quantitative cross-sectional survey design to collect data from 228 small and medium enterprises (SMEs) in Uganda to test the mediating role ecologies of innovation in the relationship between symbiotic resonance, nexus of generative influence and opportunity exploitation, but also, the moderating role of firm size in the relationship between symbiotic resonance and ecologies of innovation. The mediated – moderated hypotheses were tested through Partial Least Square Structural Equation Modeling (PLS-SEM) using SmartPLS version 3.3.0. The study found that ecologies of innovation positively and significantly mediate the relationship between nexus of generative influence and opportunity exploitation. Additionally, we confirmed that firm size moderates the relationship between symbiotic resonance and ecologies of innovation. Managers of SMEs and policy makers should pay more attention to situations where the owner/manager can act as a leader to influence employees positively, create an enabling environment, provide feedback, allow employee to deviate from norms. [ABSTRACT FROM AUTHOR]

The aim of this analysis is to identify the possibility of treating eco-innovation in micro and small enterprises as a factor influencing the energy efficiency of the economy. In order to obtain an answer to such a research question, quantitative research was carried out among Polish enterprises from the SME sector (N = 400). Accordingly, the CATI technique was applied. The selection of enterprises was random and took place in the non-returnable drawing process. The criterion for selecting the sample was the size of enterprises, but in order to ensure the possibility of drawing conclusions based on a sufficiently large research sample, its structure (300 micro and 100 small enterprises) assumed the study of small enterprises in a proportion greater than their actual share in the population of enterprises. As a result of this research, the existence of a relationship between the improvement of the company's competitive position and its activity in the field of eco-innovation implementation was confirmed. It is shown that the behavior and attitudes of entrepreneurs largely determine the very decisions regarding the use of specific types of eco-innovation, as well as the areas in which they brought about changes influencing the improvement of the competitive position of the surveyed companies. Differences in these decisions can be observed in micro and small companies. This article justifies the notion that the impact of the scale of micro and small companies is important in shaping the energy efficiency of the economy. [ABSTRACT FROM AUTHOR]

The authors of this research examine and evaluate organizational factors associated with commercialization under the Air Force Small Business Innovation Research (SBIR) program. Their objective is to improve return on investment. The data set used was the SBIR Phase II program data set, which contains information on 433 SBIR topics with closed contracts reported during Department of Defense (DoD) fiscal years (FYs) 2015 to 2018. Each data point contained characteristics of the topic, including commercialization. Military capability or topic areas were hypothesized to have varying commercialization rates. Incumbency was theorized to be a characteristic of successful programs, while increased company size was theorized as a characteristic of unsuccessful programs. Variables were analyzed through graphs and logistic regression. Small businesses (1 to 31 employees) have a 2.6% increased commercialization rate compared to large businesses (32 to 499 employees); this increase is significant when compared to the 8.8% global success rate of SBIR projects. No learning effect or improved performance was observed between companies new to the SBIR program (fewer than 14 contracts) and incumbents (15–419 contracts). The opposite—learning— was observed with new entrants outperforming incumbents. A bump in the data appears for newer entrants with some experience. In FY 2019, DoD obligated $1.8 billion in SBIR funding, and previous research indicated the commercialization rate of SBIR Phase II contracts is approximately 8.8%. This exploratory research looks at factors and trends seen in successful programs. Findings indicate factors that may guide investment choices to improve commercialization rates. [ABSTRACT FROM AUTHOR]

One of India's fastest-growing industries is the manufacturing sector centered on exports. Additionally, it has a greater impact on the economic development of India. Technology in the export-oriented manufacturing sector makes a significant contribution to the rise in productivity, which also boosts profits. The study's major goal is to learn more about the adoption of the 14.0 ICT system by manufacturing enterprises with reference to MSMEs and to evaluate its efficacy. In order to gather information for this goal, a survey approach was used, with the dimensions of ICT infrastructure, ICT hardware, software, and information systems, as well as people and human resource factors, as the instruments. Multiple regression and descriptive statistics were used to evaluate the data on a sample size of 7 businesses from the Pondicherry region. The conclusion is that firms have a significant gap in their ICT preparedness in terms of ICT infrastructure, ICT hardware, software, and information systems, and this must be treated seriously by the businesses if technology advancement is to continue in the future. [ABSTRACT FROM AUTHOR]

Adoption of technology can enhance the development of micro and small enterprises (MSEs). But in Ethiopia, there is a very low adoption of broadband connections, mobile phones, computers, printers, scanners, copiers, and other technologies by MSEs. The main objective of this study was to identify the determinants of technology adoption by MSEs in Northwest Ethiopia. Cross-sectional data were collected from 327 MSEs selected using the stratified random sampling method and analyzed using the Heckman two-stage model. The first stage probit model estimation results showed that sex, educational level, source of start-up capital, size of the enterprise, and whether the owner of the enterprise has had technology related trainings were significant factors determining technology adoption decisions of MSEs. The second stage estimation results showed that sex, education level, experience, age, family size of the owner, and access to credit significantly influence the degree of technology adoption. The findings indicate that MSEs need more education (information) on technology, greater access to credit, and incentives provided by the government of Ethiopia and other agencies in order to increase their adoption of technology. [ABSTRACT FROM AUTHOR]

The objective of this study is to determine if there is a dependency association between the characteristics of micro, small and medium-sized companies (MSMEs) in terms of size, seniority, level of education of their managers and gender, and the taking of credit «drop by drop». An investigation is developed with quantitative methodology and the population under study is taken as MSMEs of the city of Bogotá (Colombia). As main findings, it is identified that there is a dependency association between the variables of company size, company age, managerial level of education, and taking credit «drop by drop» (informal loans). [ABSTRACT FROM AUTHOR]

The research was aimed at identifying and empirically investigating the factors influencing the adoption of e-business in SMEs of Saudi Arabia. The Technology-Organization-Environment (TOE) framework was complemented with the individual context elements to develop the conceptual model for the present study. The framework was developed based on the two-pronged strategy: an extant literature review and a focus group interview with panel of experts. Subsequently, a questionnaire-based survey was conducted, and data from 111 SMEs were collected. The researchers tested the model and related hypotheses, employing multiple regression analysis. The results indicate that the firm size, competitive pressure, entrepreneur's innovativeness, and IT savviness significantly influence the e-business adoption in SMEs. The findings and conclusions of the study, as well the future research prospects, are discussed. [ABSTRACT FROM AUTHOR]

The question of how companies can best prepare for the future to maintain or improve their existing position in the market place has increased its momentum. This article aims to analyze future preparedness as a joint construct consisting of a company's exploitation and exploration capabilities. In this article, we thereby consider exploitation as a firm's strategy to prepare for the future by focusing on its organizational structure and resources, and exploration as its strategy to engage in corporate foresight to anticipate changes in their environment. Previous scholars centered their research on large companies and single industries. In this article, we close this gap by analyzing future preparedness of large companies as well as of small and medium-sized enterprises from 12 different industries. Data were obtained from a heterogeneous sample of 602 companies of the German economy. For data analysis, the measured variables were classified using principal component analysis and compared by means of variance analysis. Our results indicate that companies rather build on exploitation of internal resources than on exploration of their environment. We further present firm size and industry as predictors for future preparedness strategies and found that the scope of future preparedness augments with firm size. [ABSTRACT FROM AUTHOR]

The crisis derived from the covid-19 pandemic has highlighted the need to improve and review our model of economy and society. It has been evidenced the importance of giving greater relevance to science, the use of knowledge, and the incorporation of values related to sustainability and solidarity. Based on the financial resources provided by the European Union, the member states have designed plans aimed at overcoming the health, economic and social crisis as well as the previous existing imbalances. In this context, and considering a country like Spain, with a business structure characterized by the small business size, the involvement of Social Economy entities could be a guarantee for the good use of the European funding deployed, due to the resilience generated by the network of mutual support and the ability to promote collective projects that combine the economic with the social, favoring the development of spaces. But, in this case, it seems that the weaknesses of many Social Economy entities, related to their small size, have been able to play against the sector. With the caution due to the data provisionality, it can be said that the pandemic has also truncated the growth trend in the business size of the sector. Of the different families of the Social Economy, and compared with the whole of the Spanish productive fabric, cooperatives have been the companies that have resisted the best, both in the number of companies and in employment, and labor societies the worst. [ABSTRACT FROM AUTHOR]

Aim/Purpose Explores the interrelationships between uncertainty, motivation, and IT readiness when predicting IOS adoption among small businesses. Background Small business IOS adoption is proportionally low in most countries worldwide. Methodology Uses a sample of small businesses and PLS structural-equations path modelling approach. Contribution Uncertainty is an underexplored construct in information systems research, and our research shows that it plays a significant role in IOS adoption among small businesses Findings The findings support that uncertainty has a negative effect on intent to adopt IOS and that motivation and IT readiness have a positive effect. Recommendations for Practitioners To alleviate uncertainty, an effort to win over small business managers to IOS over the internet must encompass accessible information, security provisions, low-cost product, simple interfaces, and system adaptability to existing provisions in the IOS network. Recommendations for Researchers The uncertainty perspective has not been tested extensively empirically, especially not in the context of technology adoption, and needs further investigation. Future Research Future research could explore the uncertainty construct in the context of IOS among different size businesses. [ABSTRACT FROM AUTHOR]

This paper focuses on Small and Medium-sized Enterprises (SMEs) and Design Management, especially the relationship between design management and business prosperity. The study is based on quantitative research conducted in January 2019. The main issues were transformed into research questions, which were further evaluated into several hypotheses; these were statistically tested. The results suggest that (as expected) there is a correlation between wellmanaged design management and business prosperity. The results were analyzed across company size with regard to B2B/B2C/B2G. The limitation of the research results lies mainly in a limited number of samples only from the Czech economy. The research did not examine the term "business prosperity" in depth. Sometimes prosperity is seen as increasing profits, sales, market share, or brand value. The originality of the paper lies in the uniqueness of the research and the possibility of utilization of its results for other economies similar to that of the Czech Republic. [ABSTRACT FROM AUTHOR]

Broadband access may have important implications for establishment births in rural areas, which feature thinner markets. Broadband may be especially important for rural nonemployer businesses, particularly those without a storefront, for access to nontraditional market channels. As women are more likely to run these types of small businesses, we further expect that broadband may have important implications for women-led businesses. With an effective instrumental variable approach, we find evidence that broadband access is a key factor leading to a higher establishment birth rate across business size and gender in rural areas. This paper identifies the largest effects on nonemployer, women-led and remote rural establishments. [ABSTRACT FROM AUTHOR]

Firms compete for clients, creating distributions of market shares ranging from domination by a few giant companies to markets in which there are many small firms. These market structures evolve in time, and may remain stable for many years before a new firm emerges and rapidly obtains a large market share. We seek the simplest realistic model giving rise to such diverse market structures and dynamics. We focus on markets in which every client adopts a single firm, and can, from time to time, switch to a different firm. Examples include markets of cell phone and Internet service providers, and of consumer products with strong brand identification. In the model, the size of a particular firm, labelled i , is equal to its current number of clients, n i. In every step of the simulation, a client is chosen at random, and then selects a firm from among the full set of firms with probability p i = (n i α + β) / K , where K is the normalization factor. Our model thus has two parameters: α represents the degree to which firm size is an advantage (α > 1) or disadvantage (α < 1), relative to strict proportionality to size (α = 1), and β represents the degree to which small firms are viable despite their small size. We postulate that α and β are determined by the regulatory, technology, business culture and social environments. The model exhibits a phase diagram in the parameter space, with different regions of behaviour. At the large α extreme of the phase diagram, a single dominant firm emerges, whose market share depends on the value of β. At the small α extreme, many firms with small market shares coexist, and no dominant firm emerges. In the intermediate region, markets are divided among a relatively small number of firms, each with sizeable market share but with distinct rankings, which can persist for long times before changing. We compare the model results to previously published empirical data from a broad range of Japanese industries, and find good agreement with a central statistical result relating the standard deviation of market share changes to the value of the market share before the change. • Two-parameter model of market structure evolution based on client switching. • Each individual client has a single firm, and can change firms from time to time. • Produces full range of market concentrations, from monopoly to many small firms. • Model results are consistent with empirical data from range of Japanese markets. [ABSTRACT FROM AUTHOR]

Most of the evidence that has been documented on the impact of demographic factors on innovation has primarily focused on large businesses, and there has been little focus on small businesses. The literature continues to confirm that innovation is a key success factor for any type and size of business, especially for small businesses in emerging economies. This current research focuses on exploring the topic of small accommodation businesses (SABs) with evidence from two developing economies, the Free State province in South Africa and Manicaland in Zimbabwe. The research adopted a survey design where primary data were retrieved from a sample of 278 randomly selected individuals with origins in the two economies. The results of the study showed: (i) innovativeness in SABs is influenced by the age and experience of the managers or owners in one of the countries and when the scores of the two countries are aggregated; (ii) Younger owner and managers were found to be more creative and innovative than their older counterparts who were more experienced. It is, therefore, necessary that owners of SABs continue to employ and invest in young people. Their energy, education, and ability to innovate make them an invaluable investment to ensure the competitive advantage and long-term sustainability of SABs. [ABSTRACT FROM AUTHOR]

Purpose: Building on the resource-based view theory, this paper aims to evaluate the role of innovation on competitiveness and competitive efficiency among Costa Rican small and medium-size enterprises (SMEs). Design/methodology/approach: The study uses a sample of 231 Costa Rican small and medium-size firms for 2019. The authors compute a competitiveness index that includes four pillars: innovation, strategy, markets and human capital. To estimate competitive efficiency, the authors use a non-parametric model, namely, data envelopment analysis, with a single constant input. Findings: The results confirm that competitive and efficient SMEs present a more homogenous distribution of resources and capabilities. The innovation pillar is positively correlated with competitive efficiency. A positive correlation exists between market experience (business age) and innovation and between innovation and business size in terms of the number of employees. Practical implications: The study contributes to the understanding on how SME managers' decision-making processes affect resource allocation within the business, and on how SMEs can introduce strategic actions based on improvements of those resources that will likely have a greater impact on competitive efficiency. Originality/value: This study contributes to better grasping how the configuration of resources and capabilities, in which innovation plays a decisive role, and contributes to shape the competitive efficiency of small and medium-sized businesses in a developing economy. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to focus on the effects of human capital composition, innovation portfolio and size on manufacturing firms' performance. Moreover, it seeks to empirically identify the levels of education that are significant in labour productivity. Design/methodology/approach: The resource-based view (RBV) theory is applied using data gathered from the National Innovation Survey in the Manufacturing Industries of Peru. Using the ordinary least squares method on a sample of 584 Peruvian manufacturing firms, the effects on firm performance of two subsamples according to innovation portfolio and firm size are determined. Findings: The direct effects of human capital composition on productivity show that the higher the workers' educational level, the higher the productivity. However, if this relationship is analysed in terms of the innovation portfolio, the authors find that labour productivity in companies with product–service innovation is greater (i.e. more significant) than in traditional manufacturing firms with only product innovations. Similarly, if this relationship is compared in terms of company, the authors find that large companies are more significant than small and medium-sized enterprises. Practical implications: The study furthers the understanding of how the relationship between human capital composition, innovation portfolio and size of manufacturing firms positively affects labour productivity. Hence, it can help managers to craft their innovation portfolio according to the educational level of their human capital. This could require that not only human resource management innovates, but also that strategic partnerships be developed with educational establishments to boost training towards product–service innovation. Originality/value: This study's results provide confirmation that the configuration of human resources, innovation portfolio and size plays a significant role on manufacturing firms' performance, particularly in the context of developing countries. [ABSTRACT FROM AUTHOR]

This study performed a comparative analysis of changes in the operating status of initial surviving disaster‐stricken businesses and non‐disaster‐stricken businesses in Lushan County, China, after a devastating earthquake on 20 April 2013. It used a logistic regression model to explore the key factors associated with 'post‐disaster continued business operation' in the long term. Field data were collected from 1,078 businesses and questionnaire data from 263 small businesses between 2013 and 2017. The results indicate that a higher proportion of initial surviving disaster‐stricken businesses than non‐disaster‐stricken businesses managed to remain operational in each observation period. The continued operation of disaster‐stricken businesses after the earthquake was positively associated with the owner's age, previous disaster experience, pre‐disaster financial conditions, closure duration, and borrowing money from family or friends. A negative association was found with the size of the business. The findings serve as a vital reference for strategies to promote post‐disaster continued business operation. [ABSTRACT FROM AUTHOR]

The objective of this study is to assess the relationship between the national banking system and the small and medium-sized enterprises (SMEs,) sector, considering the financial needs given the role of these enterprises in the development process, which means the need to reconsider the nature of the relationship between the two parties that are the most important actors in the national economy. The analytical descriptive approach has been adopted. The study found that the Algerian banking system lacks modern management methods that qualify it to be the most strategic source to reduce the problem of financing the small and medium-sized enterprises (SMEs). [ABSTRACT FROM AUTHOR]

• Only 35% of SME waste is recycled in England – it is not mandatory to recycle. • Globally 27 of 42 cities evaluated have no requirement for businesses to recycle. • 15 cities had full or partial mandatory requirements for SMEs to recycle. • 8 scenarios were modelled based on global policy approaches. • Mandated recycling would lead to 67% additional recycling across 62 SMEs modelled. The Commercial and Industrial (C&I) waste stream is complex due to the diversity of material generated and variation in businesses by activity and size. Businesses in England generate more waste than households but despite this the C&I waste stream has historically been overlooked in waste policy. Many Small and Medium Enterprises (SMEs) do not segregate dry recyclable materials and biowaste for separate collection leading to resources being wasted. Implementing smarter systems for managing waste from SMEs will be a key component of developing circular cities. In England the government has pledged to improve the management of waste from businesses – however it is uncertain what interventions, if any, it will make. This paper evaluates the mandatory requirement for businesses to separate out dry recyclable materials and biowaste in 42 global cities. The results highlight the patchwork of legislation towards C&I waste with 27 cities having no mandatory requirement for businesses to segregate material. Where the requirement was mandatory, the approach varied from being fully mandated to having exemptions based on the type and size of business, and levels of waste generated. From the legislation in these cities eight scenarios were modelled to assess what impact these interventions could have in England based on waste data collected from 62 SMEs. Mandatory separation of dry recyclable materials and biowaste for all SMEs based on the approach in San Francisco would have the biggest impact leading to 67.2% additional waste being separated – an average of 31.1 kg/week for the SMEs sampled. [ABSTRACT FROM AUTHOR]

This study outlined how the microenterprises overcome numerous challenges common to start-up through 'open development' characterized by collective sharing of knowledge, tools, equipment and workforce amongst competing microenterprises, and belonging to trade/professional associations that ensure that knowledge becomes a public good that can be accessed by everyone who needs it. The study found that majority of the microenterprises studied experienced scaling-up from between a few months to around three years from inception, while only a few scaled-up after three years. This paper shows strong positive relationships between variables capturing open development activities (internal training programmes within enterprise, knowledge acquisition from competitors within the cluster, intra-family learning and training, open innovations) and incidence of scale-up. Incidence of scale-up was captured using significant increase in the size of the enterprise, capital base, business activity or turnover or gross sales relative to start up. The study concluded that clustering of small businesses in Africa facilitates open development and is a potential avenue to overcoming the financial constraints commonly associated with small firms and can thus be an enabler of industry growth. [ABSTRACT FROM AUTHOR]

Purpose: Given the importance of competitive intelligence (CI) to the economic performance of firms, understanding whether CI practice is impacted by firm size or by their awareness of CI maybe important when creating programs designed to improve firms' CI performance. This paper aims to address this by examining the extent to which the CI practices of small and medium-sized enterprises (SMEs) and large firms differed using a sample of firms with knowledge/awareness of CI. Design/methodology/approach: A survey was developed that included 10 CI organization questions and 67 CI process questions. The survey was sent to a sample with awareness/knowledge of CI – strategic and CI professionals (SCIP) members and individuals who had attended SCIP events T-tests were then used to compare the SME's and large firms' responses to the 10 CI organization and 67 CI process questions. Findings: For firms with CI awareness/knowledge, the study results suggest that size has very little relationship with CI practice. Of the 10 CI organization variables, only two were significantly different between the SME's and the large firms. Large firms had more full-time CI staff and were more likely to have a formal intelligence unit compared to the SME's. Of the 67 CI process variables, only four were significantly different between the SME's and the large firms. Large firms made more use of company intranet for distributing CI findings use business analytics software and use commercial databases for information than SME's while the SME's used social media, in particular Facebook more than large firms, in their competitive intelligence activities. Originality/value: This study uses a sample frame of firms with CI awareness/knowledge in examining differences between SME's and large firms CI practices. [ABSTRACT FROM AUTHOR]

• This study examined the impact of the Foundations for Safety Leadership (FSL) training by size of business. • The FSL training improves safety leadership outcomes regardless of the size company for which the leader worked. • However, those from small and medium sized companies reported the greatest improvement in their use of safety leadership skills. Introduction: The majority of construction companies are small businesses and small business often lack the resources needed to ensure that their supervisors have the safety leadership skills to build and maintain a strong jobsite safety climate. The Foundations for Safety Leadership (FSL) training program was designed to provide frontline leaders in all sized companies with safety leadership skills. This paper examines the impact of the FSL training by size of business. Methods: Leaders, defined as foremen or other frontline supervisors, from small, medium, and large construction companies were recruited to participate in a study to evaluate the degree to which the FSL changed their understanding and use of the leadership skills, safety practices and crew reporting of safety-related conditions. We used linear mixed modeling methods to analyze pre-post training survey data. Results: Prior to the training, leaders from small and medium sized companies reported using safety leadership skills less frequently than those from large ones. After the training, regardless of business size, we observed that the FSL training improved leaders understanding of safety leadership skills from immediately before to immediately after the training. Additionally, leaders reported greater use of safety leadership skills, safety practices, and crew reporting of safety-related conditions from before to two-weeks after the training. However, those from small and medium sized companies reported the greatest improvement in their use of safety leadership skills. Conclusions: The FSL training improves safety leadership outcomes regardless of the size company for which the leader worked. However, the FSL may be even more effective at improving the safety leadership skills of leaders working for smaller sized construction companies or those with lower baseline levels of safety leadership skills. Practical applications: The majority of construction companies employ a small number of employees and therefore may not have the resources to provide their frontline leaders with the leadership training they need to be effective leaders who can create a strong jobsite safety climate. The Foundations for Safety Leadership (FSL) training can help fill this gap. [ABSTRACT FROM AUTHOR]